Buying GuideHelpful LDV Guide On What Is The Process Of Buying A House In the UK

Here at LDV, we ensure that you get all the help you need in every aspect of your life. This is why this guideline on what is the process of buying a house in the UK will indeed help you when making that important decision. Get free calculations on how much it costs when buying a house and which locations are best when looking for homes to buy in the UK.

What is the process of buying a house?: Man wearing a hard hat and holding a house plan looking at the house.

In this blog we will discuss the following:

  • What Is The Process Of Buying A House? - Helpful Guide For You To Use
  • Free Calculations On How Much It Costs When Buying A House
  • Best Homes To Buy In The Most Popular Locations Around The UK
  • Buy A Home Today - Invest In Your Future

What Is The Process Of Buying A House? - Helpful Guide For You To Use

What is the process of buying a house?: Man wearing a hard hat and holding a house plan looking at the house.

Purchasing a home is one of the most important decisions youโ€™ll ever have to make in your life both financially and spiritually. Thatโ€™s why the home-buying process is difficult because there are so many factors to consider. Whether you are buying your first home or want to review the process before buying your next home, weโ€™ve put together all the information you need before buying a home.

Steps To Take When Buying A Home

  1. Location! Location! Location! Decide where you want to live.
  2. Check out the average price. This will help you when you want to calculate the deposit that is needed and how long it will take for you to repay it.
  3. Start saving for your new home. If you are using a home-buying program then you can read all about it on MoneyHelper - Buying A Home.
  4. Seek help from the credit counsellor to help you find the best option for a mortgage loan that has the lowest interest rates so you can get the home youโ€™ve always wanted.

Are There Legal Issues With Buying A Home?

There are many legal issues when buying a house. You need to consider the legal process of transferring the title from one owner to another, registering your new home in the Land Registry etc. This needs the appointment of an attorney who will also be responsible for writing your purchase contract which sets out the terms and conditions of the sale of your home.

Free Calculations On How Much It Costs When Buying A House


Costs when buying a house: A hand holding a calculator with money at the bottom right and a house in the blurry background.

When looking to buy a house, there are a few things you need to take into consideration. We have combined a list of calculations that go into buying property in the UK:

  1. Purchase Price - This is the buying price of your property. It will either be financed from your savings or a loan.
  2. Stamp Duty - This cost usually varies depending on the state you live in and the total value of the property. It is a state tax that is levied on the purchase of all properties and could amount to thousands of pounds.
  3. Conveyancer or Solicitor - A conveyancer or solicitor manages the legal documents needed for the purchasing of the house. They manage and oversee the actual transaction of the sale of a property from the seller to the buyer. Their fees differ as they can charge you for certificate fees, photocopying and paperwork registration fees.
  4. Accountant Fees - An accountant is normally needed if you are buying for investment purposes as they are there to help you structure your investments accordingly.
  5. Buyer Agent Fees - Buyer agents are good to have to avoid making mistakes when buying. Their advice is worth the investment. They usually charge you a certain percentage of the purchase price of the property they secure for you.
  6. Lenders Mortgage Insurance - A lender’s mortgage insurance will be required by law if your deposit is less than 20% of the purchase price of your property.
  7. Loan Application Fees - To cover the costs of legal contracts, property title checks, credit checks and fees for setting up the mortgage in their banking system, most lenders will charge a home loan application fee.
  8. Going through these costs and knowing what is involved when buying a home, will help you make a more informed decision and also not be caught off guard when purchasing your home. Side tip from our home lover - โ€œAlways remember to save up double of what is needed to be comfortable when money is needed for certain things.โ€™โ€™ - Nontozakhe Raphadu

    To calculate your mortgage and have an estimation of costs when buying a house in the UK, use this Mortgage Calculator and youโ€™re good to go.

    Best Homes To Buy In The Most Popular Locations Around The UK

    Homes to buy: Beautiful modern home with large pool and lovely sunset in the background

    Nothing beats a house in the best location. Letโ€™s take a look at JLLโ€™s property research on some of the best locations around the UK that one can consider when buying a forever home:

    Birmingham

    • Average Property Price - ยฃ202,400
    • Average Rental Yield - 5.30%
    • JLL Price Growth Prediction For 2026 - 24.5%
    • JLL Rental Growth Prediction For 2023 - 12%

    Derby

    • Average Property Price - ยฃ180,966
    • Average Rental Yield - 6.07%
    • JLL Price Growth Prediction For 2026 - 17.5%
    • JLL Rental Growth Prediction For 2026 - 12%

    Leeds

    • Average Property Price - ยฃ205,600
    • Average Rental Yield - 5.27%
    • JLL Price Growth Prediction For 2026 - 21%
    • JLL Rental Growth Prediction For 2026 - 27.05%

    Manchester

    • Average Property Price - ยฃ215,700
    • Average Rental Yield - 5.17%
    • JLL Price Growth Prediction For 2026 - 23.5%
    • JLL Rental Growth Prediction For 2026 - 31.07%

    Sheffield

    • Average Property Price - ยฃ169,100
    • Average Rental Yield - 4.45%
    • JLL Price Growth Prediction For 2026 - 15%
    • JLL Rental Growth Prediction For 2026 - 26.40%

    Liverpool

    • Average Property Price - ยฃ152,300
    • Average Rental Yield - 5.23%
    • JLL Price Growth Prediction For 2026 - 19.5%
    • JLL Rental Growth Prediction For 2026 - 36.03%

    Newcastle

    • Average Property Price - ยฃ147,200
    • Average Rental Yield - 5.10%
    • JLL Price Growth Prediction For 2026 - 13.5%
    • JLL Rental Growth Prediction For 2026 - 12.38%

    Leicester

    • Average Property Price - ยฃ223,800
    • Average Rental Yield - 5.31%
    • JLL Price Growth Prediction For 2026 - 17.5%
    • JLL Rental Growth Prediction For 2026 - 45%

    Nottingham

    • Average Property Price - ยฃ196,600
    • Average Rental Yield - 4.92%
    • JLL Price Growth Prediction For 2026 - 17.5%
    • JLL Rental Growth Prediction For 2026 - 35.41%

    Glasgow

    • Average Property Price - ยฃ140,200
    • Average Rental Yield - 5.31%
    • JLL Price Growth Prediction For 2026 - 21%
    • JLL Rental Growth Prediction For 2026 - 36.70%

    To find more homes to buy in the right location, check out Zoopla or Rightmove. They are online websites that will find you the best home in the right location and at the right price.

    Buy A Home Today - Invest In Your Future

    Invest in your future by making things happen vision board filled with stickers pinned on it.

    You have seen what is the process of buying a house with our helpful guide, we are certain that buying a home will be simple for you. Using the free mortgage calculator will help you see how much it costs when buying a house in the UK.

    Choose the best homes to buy in the most popular locations around the UK and get the best property at reasonable prices. To see which banks are best for saving and getting your mortgage, check out our blog about Mortgage Savings Account.

    For a good read on the best rates on mortgages, check out the Best Cash Rate For ISAs blog and gather as much information before purchasing your home.

Posted 4th October, 2023

Author: Nontozakhe Raphadu

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